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US Treasury Department says national debt surpasses $23 trillion

02 November 2019 03:31 (UTC +04:00)

- The United States' national debt has surpassed a record $23 trillion, the US Treasury Department data revealed, APA reports.

As of 31 October, the US national debt surpassed $23 trillion, the Treasury Department's data showed on Friday.

The Peter G. Peterson Foundation said in a separate press release that the interest paid on the US federal debt will total nearly $6 trillion over the next decade.

The United States spends $1 billion every day on paying the interest, the release pointed out.

In addition, the Peter G. Peterson Foundation calculated that the US federal debt amounts to $179,000 per household or $70,000 per person.

In September, the US Treasury Department stated that the federal budget deficit had grown to $984 billion in 2019 with the shortfall up to $205 billion from the $779 billion deficit a year earlier.